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NORTHWESTERN 

UNIVERSITY 
BULLETIN 



Vol. XVI. 



May 12, 1916 



No. 34 



Published Weekly by Northweuem University. Northwestern University Building, Chicago, Illinois 






V mi n 



THE 

SCHOOL OF COMMERCE 

1916-1917 



Northwestern University 

Evanston and Chicago 



The 
School of Commerce 

1916-1917 



Published by the University 



CONTENTS 

CaI-ENDAR ^ 

The Faculty 4 

Special Lecturers 5 

The School of Commerce y 

Admission 

Requirements g 

Credits lO 

Course in Business Administration 

Degree, Bachelor in Business Administration 1 1 

Requirements for the Degree, Bachelor in Business Admin- 
istration II 

Schedule of Courses 12 

Selection of Subjects 15 

Degree, Bachelor of Science 15 

Registration 16 

Description of Courses 17 

General Information 

The Library 29 

Employment for Gr?iduates 30 

Residences for Men 31 

Grades of Scholarship 32 

Class Attendance 33 

Fees and Expenses 33 

Self-support of Students 34 

University Not Responsible for Personal Losses 35 

How to Address Correspondence 35 



i9i6 




Sept. 


25 Mon. 


Sept. 


25 Mon. 


Sept. 


25 Mon. 


Sept. 


27 Wed. 


Sept. 


28 Thu. 


Oct. 


3 Tue. 


Nov. 


10 Fri. 


Nov. 


30 Thu. 


Dec. 


6 Wed. 



Calendar 

1916-1917 

Academic year 1916-1917 begins 

Examinations for admission 

First day of registration 

Second examinations 

Class work begins 

Last day for registration of candidates for advanced 

degrees 
Gage Prize Contest 

Thanksgiving recess, to December 3, inclusive 
Last day for filing titles of theses for advanced 

degrees 
Dec. 20 Wed. Christmas recess to January 3, Wednesday, inclusive 



Class work resumed 

Central Debating League Contest 

Last day for presentation of orations for Kirk Prize 

Mid-year examinations begin 

Second examinations. Last day of registration for 
the second semester 

Second semester begins. Class work resumed 

Kirk Prize Contest 

Washington's Birthday 

Local Freshman Debate 

Sargent Prize Contest 

Easter recess, to April 9, Monday, inclusive 

Second examinations 

Intercollegiate Freshman Debate 

Last day for the presentation of theses for the Har- 
ris Prize and the Orrington Lunt Prize 

Northern Oratorical League Contest 

Last day for filing theses for advanced degrees 

Oral examinations of candidates for advanced 
degrees 

Regular examinations begin 

Memorial Day 

FIFTY-NINTH ANNUAL COMMENCEMENT 



I9I7 




Jan. 


4 Thu. 


Jan. 


19 Fri. 


Jan. 


20 Sat. 


Jan. 


29 Mon. 


Feb.. 


10 Sat. 


Feb. 


12 Mon. 


Feb. 


16 Fri. 


Feb. 


22 Thu. 


Feb. 


23 Fri. 


Mar. 


9 Fri. 


Apr. 


6 Fri. 


Apr. 


9 Mon. 


Apr. 


20 Fri. 


Apr. 


28 Sat. 


May 


4 Fri. 


May 


19 Sat. 


May 


26 Sat. 


May 


28 Mon. 


May 


30 Wed. 


June 


13 Wed. 



The Faculty 

Abram Winegardner Harris, Sc.D., LL.D. 
President of the University 

Willard Eugene Hotchkiss, Ph.D. 
Dean 

Arthur Emil Swanson, Ph.D. 
Director of Evening Classes 

Neva Olive Lesley 
Secretary 



Willard Eugene Hotchkiss, Ph.D. 
Professor of Economics and Social Science 

^Walter Dill Scott, Ph.D. 
Professor of Advertising 

Earl Dean Howard, Ph.D. 
Professor of Economics 

Frederick Shipp Deibler, Ph.D. 
Professor of Economics 

Alfred William Bays, B.S., LL.B. 
Professor of Business Law 

Arthur Edward Andersen, C.P.A. 
Professor of Accounting 

Ralph Emerson Heilman, Ph.D. 
Professor of Economics and Social Science 

Arthur Emil Swanson, Ph.D. 
Associate Professor of Economics and Business Organization 

Walter Edward Lagerquist, Ph.D. 
Associate Professor of Economics and Commerce 

Horace Secrist, Ph.D. 
Associate Professor of Economics and Statistics 

David Himmelblau, B.A., C.P.A., B.B.A. 

Assistant Professor of Accounting 



*Absent on leave. 



Homer Bews Vanderblue, Ph.D. 
Assistant Professor of Transportation 

Frederic Ernest Richter, M.A. 
Assistant Professor of Banking 

Henry Post Button, B.E.E. 
Instructor in Factory Management 

Charles Merle Ruth, LL.B. 
Instructor in Business Law 

Eric Louis Kohler, M.A. 
Instructor in Accounting 

Walter Kay Smart, Ph.D. 
Lecturer in Business English 

George Mark Sneath, M.A. 
Lecturer in Business English 

Thomas Lutz Stitt 
Lecturer in Foreign Trade 

Walter Sheldon Tower, Ph.D. 
Lecturer in Resources and Trade 

MIchele A. Vaccariello, B.A. 
Lecturer in Commercial Spanish and Commercial French 

Andrew Thomas Weaver, M.A. 
Lecturer in Public Speaking 

James Hamilton Picken 
Lecturer in Sales Correspondence 

James Harris Bliss, Jr. 
Lecturer in Accounting 

John Fred Lynn 
Lecturer in Accounting 

Roy Hall, B.A. 

Assistant in Accounting 



Special Lecturers 

1915-1916 

John J. Arnold 

Vice-President and Manager of Foreign Department, First National Bank 
Irving A. Berndt 

Manager, Betterment Department, Joseph T. Ryerson & Son 
Arthur Bryant 

Betterment Department, Joseph T. Ryerson & Son 
Pierre Bonnecue 

Tabulating Machine Company 
Mark W. Cresap 

Vice-President and Credit Manager, Hart, Schaffner & Marx 
Thomas Drever 

Comptroller, American Steel Company 
Edward P. Farwell 

Local Manager, Babson Statistical Organization 
Frank Gilbreth 

Consulting Engineer, Providence, R. I. 
Royal Keeley 

Industrial Engineer, Chicago 
C. E. Knoeppel 

Counselor on Industrial Management, New York City 
J. F. Lynn 

Hirsh Stein Company 
Albert C. MacMahan 

Sales Department, National Cash Register Company 
Charles F. McConnell 

Purchasing Department, Sears, Roebuck & Company 
J. Lee Nicholson, C.P.A. 

Factory Cost Specialist, New York City 
James Peabody 

Statistician, Atchison, Topeka and Santa Fe Railway 
Arthur J. Peterson 

Rate Setter, Link-Belt Company 
Charles H. Schw^eppe 

Lee Higginson & Company 
W. Ernest Seatree, C.P.A. 

Resident Partner, Price Waterhouse & Company 
A. W. Shaw 

Editor of "System" 
Edward M. Skinner 

General Manager, Wilson Brothers 
Frank E. Webner, C.P.A. 

Expert Cost Accountant 
Harry A. Wheeler 

Vice-President, Union Trust Company 
George Woodruff 

President, First National Bank, Joliet 



The School of Commerce 



ORGANIZATION AND LOCATION 

Northwestern University School of Commerce was organized by 
Northwestern University in June, 1908, when sixty business men of 
Chicago, members of the Chicago Association of Commerce, the 
Illinois Society of Certified Public Accountants, and the Industrial 
Club of Chicago, assumed financial responsibility for the School 
during the first three j^ears of its existence. 

Northwestern University, by virtue of its location in a leading 
commercial center, occupies a favorable position for carrying on 
education for business. The general offices of the School of Com- 
merce are in the Northwestern University Building, Chicago, and 
the day classes are conducted on the College Campus in Evanston, 
situated on the lake shore immediately north of the city. A branch 
Commerce office is in Harris Hall, on the Campus. 

The University is equipped with library and other facilities be- 
sides being in close proximity to the large libraries of Chicago. Its 
location offers a wealth of material for study and observation, and 
the advantage of location is greatly enhanced by a plan of organiza- 
tion which insures close co-operation with progressive and public- 
spirited business men. 

THE AIM OF THE SCHOOL OF COMMERCE 

Instruction in the School of Commerce is based on three 
fundamental aims: first, to give students a comprehensive, many- 
sided survey of business facts and experience; second, to develop a 
power of accurate analysis which will prepare the student to think 
complicated business problems through to the end ; third, to maintain 
an atmosphere in which large business problems will be regarded in 
a public-spirited way. Fundamentally, then, the object of the School 
is to train business executives. 

SUCCESSFUL BUSINESS MEN, TRAINED MEN 

Men who have been successful in a legitimate business have in 
some way been trained for that success. They may have been trained 
by the business itself, but if they have, years of experience have 
brought them to the point where they observe certain definite prin- 
ciples of business action. Consciously or unconsciously, these prin- 



NORTHWESTERN UNIVERSITY 



ciples are applied to the solution of problems just as principles are 
applied to the solution of problems in law, medicine, and other pro- 
fessions. 

TRAINING BY EXPERIENCE WASTEFUL 

To learn from trial and error, from the mistakes of the daily 
routine, is costly. Only a short time ago, lawyers, doctors and engi- 
neers were being trained in the school of experience. Early chemists 
were limited to the results of their individual observations and 
research. But today no one would think of sending a prospective 
chemist to a laboratory to work out his preparation at random without 
the benefit of the experience and the scientific principles already 
achieved. As the principles of chemistry and other sciences have been 
derived from experiment and observation, so there is need of assem- 
bling the results of experience in business and of making available for 
the future, principles of business management which have emerged 
from the successes and errors of the past. The wastefulness of 
leaving each individual to learn from costly experience what others 
have discovered over and over again, has brought the keenest execu- 
tives to realize that systematic business training is a fundamental 
necessity. 

Admission 

REQUIREMENTS FOR ADMISSION TO THE COURSE IN BUSINESS 
ADMINISTRATION 

Applicants for admission to the course in Business Administration 
must have satisfied entrance requirements in some college, profes- 
sional, or scientific school of approved standing and have completed 
two full years of study in such school. The inclusion, in the two 
college years, of a full year course in the Principles of Economics is 
recommended. Persons are not permitted to begin the work of the 
course in Business Administration unless their college record gives 
evidence of capacity to undertake serious professional study. 

COLLEGE PREPARATION FOR ENTRANCE TO THE COURSE IN BUSINESS 

ADMINISTRATION 

Persons about to enter college, who can meet the entrance require- 
ments of the College of Liberal Arts of Northwestern University, 
may qualify for entrance to the course in Business Administration by 
taking the following two-year Pre-Commerce course in the College of 
Liberal Arts: 



THE SCHOOL OF COMMERCE 



Freshman Year Sophomore Year 

Hours Hours 

Economic History (Economics Economics A 3 

^^) • ' \ 3 General Psychology 3 

Mathematics Ai or A2 3 English Bi 2 

English Ai or A2 3 Foreign Language (German A 

Foreign Language (French A ^^ French A) 3 



or German A) 3 

Geography 4 



Science 4 



Total 16 Total 15 

Bookkeeping — second semester, 
no credit 2 

If the applicant presents credit for less than two years of college 
work, such credit applies on the above Pre-Commerce course. 

COLLEGE ENTRANCE REQUIREMENTS FOR THE PRE-COMMERCE 

COURSE 

For admission to the Pre-Commerce course without examination, 
a certificate of the Principal of an accredited high school, or other 
qualified officer, must be presented, recommending the candidate as 
competent to pursue college studies to advantage, and showing fifteen 
units of credit as follows: 

A. At least three units of English, one unit of Algebra, and 

one unit of Geometry. 

B. Foreign languages — Latin, Greek, French, German — at least 

three units of one of these languages or two units of each 
of two of them. 

C. Other subjects sufficient to make, with the above, an ag- 

gregate of fifteen units. These may include any sub- 
jects commonly appearing as a part of a high school 
course, provided that no subject is presented for less than 
a half unit of credit. Vocal music and physical training 
are not recognized for credit. 
A condition of not more than one unit may be allowed to a can- 
didate ranking above the lowest quarter of his high school class, but 
no condition is allowed in the prescribed English, Algebra, or 
Geometry, 

Deficiencies in entrance credit may be made up by examination 
before admission, at the examinations of the College Entrance Ex- 
amination Board in June, or at the regular entrance examinations 
held at this University in September. All entrance deficiencies must 
be made up before the beginning of the second year of residence. 

For candidates who do not present from an accredited school cer- 
tificates covering the entrance requirements described above, the fol- 



lO NORTHWESTERN UNIVERSITY 



lowing provision is made: Examinations may be taken in the pre- 
scribed work in English, Algebra, Geometry, and Foreign Languages, 
and, if these are satisfactory, the candidate will be admitted to col- 
lege, provided he presents supplementary evidence of preparation 
equivalent to that furnished by a four-year high school course. 

CREDITS 

College credits for admission or for advanced standing, and high 
school credits for admission to the Pre-Commerce course in the 
College of Liberal Arts, must be forwarded direct to the University 
by the principal or the registrar of the institution last attended. The 
proper blanks will be furnished upon request. 

THE OBJECT IN REQUIRING TWO YEARS OF COLLEGE STUDY IN 

PREPARATION FOR ENTRANCE TO THE COURSE IN 

BUSINESS ADMINISTRATION 

The business career is rapidly acquiring, and ought to acquire, a 
recognized professional standing. Every young business man should 
have a training which not only will enable him to maintain his place 
in the profession but also will serve to make him a leader in raising 
the standards of business efficiency. To rise to such a position, he 
must be able to look beyond the routine duties of his work and to 
grasp the broader principles upon which business success is founded. 
Business today demands in particular men who are educated, and 
not men who are merely drilled in specific processes. 

The aim of the Northwestern University School of Commerce is 
to base the training of its students for business on the foundation of a 
broad outlook on life. Business is infinitely complex and specialized, 
and requires a power of analysis which nothing so well as a compre- 
hensive scientific training can give. With this complexity there 
exist, in a great modern business, far-reaching public relations de- 
manding a liberal culture and the finest qualities of mind and spirit. 
It is for the purpose of developing such qualities that colleges are 
maintained. 

In requiring two years of college work as a prerequisite for ad- 
mission to the course in Business Administration, and in combining 
with the strictly professional subjects in that course many others of a 
liberalizing purpose, the School of Commerce becomes articulated as 
an integral part of the scheme of American higher education. The 
student who contemplates taking up the course in Business Adminis- 
tration should pursue the two years of preparatory college work with 
the same earnest professional spirit which will be required of him 
in the years of the Business Administration course which follow, 



THE SCHOOL OF COMMERCE II 

remembering that, without the training of mind and spirit, he will 
not be able in any adequate way to solve the problems of his later 
course and of the active years which follow. 

Education is a public function and owes its chief duty to society. 
While the School of Commerce fully expects to promote the progress 
of its students toward positions of greater responsibility and influence, 
its first object is to make them useful members of the commonwealth 
by increasing their efficiency in rendering service. 

The Course in Business Administration 

THE DEGREE, BACHELOR IN BUSINESS ADMINISTRATION 

By vote of the Board of Trustees, January 9, 191 2, a course of 
study leading to the degree of Bachelor in Business Administration 
was approved. The plan of instruction contemplates a three-year 
course involving a thorough inquiry into the principles of business 
organization and management, and the application of principles to 
specific problems. The course comprises a careful and comprehensive 
survey of the different branches of business, followed by a more in- 
tensive study in some particular line. 

REQUIREMENTS FOR THE DEGREE, BACHELOR IN BUSINESS 
ADMINISTRATION 

Formal application for the degree must be made before Novem- 
ber I of the academic year in which the degree is granted. Every 
candidate for the degree will be required, during his last year, to 
undertake a piece of constructive investigation relating to the par- 
ticular business which he intends to enter. The subject of this 
investigation must be filed with the secretary of the School of Com- 
merce not later than December i, and a thesis containing the results 
must be presented not later than May 15. 

In order to qualify for the degree at the end of the third year, it 
is necessary for the student to secure a position and to be employed 
in the line of business for which he is preparing, during the summer 
intervening between the last two years. 

Candidates offering advance credit from other institutions are 
required to pursue at least one full year's work under the direction 
of the School of Commerce faculty. 

The degree, Bachelor in Business Administration, is not awarded 
merely as result of pursuing a specified number of courses. Stu- 
dents are expected to meet the requirements imposed with the 
professional spirit and measure of precision demanded in well-regu- 
lated business houses. As the course progresses, they should acquire 



12 NORTHWESTERN UNIVERSITY 

ability to analyze business situations and to apply fundamental prin- 
ciples to the solution of practical business problems. If after a reason- 
able time a student's work does not give promise of effectiveness in 
the business field, he is discouraged from continuing the course. 

Schedule of Courses 

First Year 

The required work of the first year of the Business Administration course 
is alike for all students regardless of the particular field in which they 
intend to specialize. The schedule for this year is as follows: 

Note: Year-subjects are printed in dark type; semester-subjects in light type. 
Required Subjects One Elective in 

Money and Banking English 

Corporation Finance Political Science 

Investments History 

Accounting I I'sycliology 

Statistics 3Iathematic8, or 

Kesources and Trade Science 

A student, who, upon entering the course in Business Administration, has 
not had the Principles of Economics, will be required to postpone the sub- 
jects Money and Banking, Corporation Finance and Investments until the 
second year, and substitute other subjects. 

Second and Third Years 

The arrangement of the subjects in the last two years is flexible and is 
adjusted with each student in such a way as to meet his particular need. In 
all cases, however, emphasis in the last year is laid primarily on individual 
work in some special field of business research. 

The following schedules give the required subjects of the last two years 
and the list of subjects from which electives may be selected by students 
preparing for particular business careers. 

ACCOUNTING 

Second Year Third Year 

Required Required 

Business Organization Seminar in Accounting 

Commercial Organization Accounting III 

Accounting II Cost Accounting 

Business Law Efficiency Standards 

Seminar Business Law 

Elective Public Service Accounting 

English Elective 

Public Plnance and Taxation Factory Management 

Transportation I>abor Problems 

Municipal Government Trust Law and Policy 
Mathematics 

BANKING AND FINANCE 

Second Year Third Year 

Required Required 

Business Organization Banking Law 

Commercial Organization Seminar in Banking 

Seminar Field Work and Special Problems 

Advanced Banking in Banking 

Accounting II Public Finance and Taxation 

Elective Elective 

Foreign Trade Public Service Accounting 

Municipal Government Industrial and Social Problems 

Trust Law and Policy Labor Problems 

Transportation 



THE SCHOOL OF COMMERCE 



13 



CHAMBER OF COMMERCE ADMINISTRATION 



Second Year 
Required 

Business Organization 
Commercial Organization 
Business Psychology 
Business Law 
Transportation 
Rate-making 
Seminar 
Elective 

Labor Problems 
Municipal GoTemment 
Sociology 



Third Yeak 
Required 

Factory Management 

Efficiency Standards 

Organization and Activity of Cham- 
bers of Commerce 

Foreign Trade 

Seminar in City Development 
Elective 

Public Finance and Taxation 

Industrial and Social Problems 

Business Law 

Political Science 



COMMERCE AND MERCHANDISING 



Second Year 
Required 

Business Organization 

Commercial Organization 

Seminar 

Business Psychology 

Business Law 

Transportation 

Rate-making 
Elective 

English 

Industrial and Social Problems 

Sociology 

Municipal Government 



Third Year 

Required 

Seminar in Merchandising 
Problems and Field Work 
Experimental Psycliology 
Efficiency Standards 
Industrial Relations 

Elective 

Foreign Trade 

Trust Law and Policy 

Labor Problems 



COMMERCIAL TEACHING 



Second Year 
Required 

Business Organization 

Commercial Organization 

Business Psychology 

Business Law 

Accounting II 

Seminar 
Elective 

Educational Psychology 

History of Education 

Problems in Secondary Education 

English 



Third Year 
Required 

Factory Management 
Efficiency Standards 
Business Law 
Cost Accounting 

Seminar in Commercial Education 
Elective 
English 

High School Methods 
Industrial and Social Problems 
Labor Problems 



FACTORY MANAGEMENT 



Second Year 
Required 

Business Organization 

Commercial Organization 

Business Psychology 

Factory Management 

Efficiency Standards 

Seminar 
Elective 

English 

Accounting II 

Industrial and Social Problems 

Engineering 



Third Year 
Required 

Laboratory in Factory Manage- 
ment 
^ Cost Accounting 
Seminar 
Engineering 
Industrial Relations 
Elective 

Labor Problems 
Transportation 
Rate-making 
Experimental Psychology 



14 



NORTHWESTERN UNIVERSITY 



Second Year 
Required 

Business Organization 

Commercial Organization 

Business Psychologry 

Business Law 

Foreign Trade 

Seminar 
Elective 

History 

Political Science 

Sociology 

South American History 

Foreign Languages 



FOREIGN TRADE* 
Third Year 



Required 

International Law 

Transportation 

Rate-making 

Advanced Banking 

Business Law 

Seminar In Foreign Trade 
Elective 

South American Trade 

Efficiency Standards 

History 

Public Finance and Taxation 

Political Science 

Trust Law and Policy 



PUBLIC AND SOCIAL SERVICE 



Second Year 
Required 

Business Organization 

Commercial Organization 

Accounting II 

Business Law 

Seminar 
Elective 

Municipal Government 

Political Parties 

Sociology 

Labor Problems 

I^abor L«g:islation 

Public Utilities 



Third Year 
Required 

Efficiency Standards 

Cost Accounting 

Public Finance and Taxation 

Public Administration 

Seminar in Politics or Sociology 
Elective 

Constitutional Law 

International Law 

Industrial and Social Problems 

Trust Law and Policy 

Social Reforms 

Ludustrial Relations 



SECRETARIAL WORK 



Second Year 

Required 

Business Organization 
Commercial Organization 
Business Psychology 
Business Law 
Efficiency Standards 
Seminar 

Elective 

Fxperimental Psychology 

English 

Political Science 



Third Year 
Required 

Problems and Field Work in OfiBce 

Administration 
Seminar in Secretarial Adminis- 
tration 
Labor Problems 
Industrial and Social Problems 
Elective 
English 

Public finance and Taxation 
Sociology 



TRANSPORTATION 



Second Year 

Required 

Business Organization 

Commercial Organization 

Transportation 

Rate-making 

Seminar 

Elective 

Labor Problems 
Trust Law and Policy 
Accounting II 
Business Psychology 



Third Year 
Required 

Business Law 

Efficiency Standards 

Transportation Law 

Public Service Accounting 

Public Utilities 

Seminar In Transportation 
Elective 

Public Finance and Taxation 

Industrial and Social Problems 

Political Science 



•For students who expect to go into Foreign Trade an additional year of 
preparation is urged. 



THE SCHOOL OF COMMERCE IS 

Selection of Subjects 

IMPORTANCE OF FUNDAMENTAL COURSES 

It is highly important that students should be well grounded in 
those subjects in which fundamental principles are set forth. Espe- 
cially do students of business need a thorough training in the use of 
English. Certain fundamental subjects have been made the foun- 
dation of the course in Business Administration by including them in 
the schedule of the first year. Even in the highly specialized subjects 
of the later 5^ears, emphasis is constantly laid on the fundamental 
principles. 

CHOICE OF ELECTIVES 

Electives should be chosen, not with the idea of accumulating the 
largest volume of information, but with the purpose of securing a 
discipline in the line of work the student intends to follow. 

SPECIALIZING 

While the largest emphasis is placed on the training of executives 
in general, it is recognized that the work of the specialist plays a 
large part in present-day business, and provision is made for meeting 
the needs of persons who expect to go into special lines of business, 
such as banking and transportation, and likewise for those who intend 
to follow certain functional specialties like accounting. The basic 
principle, however, underlying the development of the course toward 
greater and greater specialization from the earlier to the later years, 
is that in connection with the opportunity to study business from 
many sides, the course should finally focus in an opportunity to go 
deeply into some one subject and become sufficiently master thereof 
to be able to analyze with authority problems in some narrow field. 

The degree of specialization, however, is not such as to prevent 
all students from mastering those subjects which are most fundamen- 
tal and when it is remembered that the specialization is disciplinary 
rather than informational, even the specialization itself does not 
commit a student to future work in the field of his specialty. Having 
gone deeply into a particular field is doubtless the best preparation for 
further work in that field, but it also serves as a training for intensive 
work in any field. American progress has owed too much to adapta- 
bility — the power to shift from one activity to another — to justify any 
course of study in which the feature of adaptability is sacrificed. 

THE DEGREE^ BACHELOR OF SCIENCE 

Students who take the Pre-Commerce course are able to 
qualify for the degree Bachelor of Science at the end of their second 



l6 NORTHWESTERN UNIVERSITY 



year in the course in Business Administration, and to qualify for the 
degree Bachelor in Business Administration at the end of the third 
year. Students who have taken their two years of college work else- 
where can qualify for the degree Bachelor of Science if their previous 
college course has included subjects equivalent to those of the Pre- 
Commerce course. 

The College of Liberal Arts requires for the Bachelor of Science 
degree a prescribed amount of work in a major subject and in two 
minor subjects. The subjects in Economics and Business proper 
cover the requirements for a major and one minor. They also cover 
a second minor in Government, Psychology, Mathematics, or some 
other College subject, the particular minor in each case being selected 
for its service to the student in the field of business for which he is 
preparing. 

Registration 

REGISTRATION FOR COURSE IN BUSINESS ADMINISTRATION 

Every applicant for the course in Business Administration is re- 
quired to register in person either at the office of the School of 
Commerce in Harris Hall on the Campus in Evanston, or at the 
office of the School of Commerce in the Northwestern University 
Building in Chicago. 

REGISTRATION IN PRE-COMMERCE COURSE 

Every applicant for the Pre-Commerce course is required to 
register in person at the office of the Registrar of the College of 
Liberal Arts, in University Hall, Evanston. Considerable advan- 
tage may be gained during the Pre-Commerce course from the counsel 
of a faculty adviser representing the School of Commerce. There- 
fore, students who are planning to enter the School of Commerce 
later are requested to signify their intention at the time of matricula- 
tion in the College of Liberal Arts. 

GENERAL REGISTRATION REGULATIONS 

Registration days are the first Monday, Tuesday, and Wednesday 
of the first semester; and the first Friday and Saturday of the second 
semester. A student not registered at the close of this period is 
subject to a fee of two dollars for late registration. 

Tuition bill is given to the student upon registration. This must 
be presented for payment immediately at the Business Manager's 
Office, 518 Davis Street, Evanston. 



THE SCHOOL OF COMMERCE 17 

Description of Courses 
Accounting 

PROFESSOR ANDERSEN, PROFESSOR HIMMELBLAU, MR. KOHLER, MR. 
BLISS, MR. LYNN, AND MR. HALL 

Bookkeeping — Theory and Practice — The chief object of the 
work in Bookkeeping is to train students in general bookkeeping 
practice in order to prepare them to take Accounting I. 

Distinction between debits and credits; principles of single and 
double entry; summarization of transactions and books required for 
this purpose; various kinds of information conveyed through ledger 
accounts; principles of journalizing, with considerable class practice 
work in making of journal entries; posting from original books of 
entry to ledger and classification of transactions; definition of book- 
keeping terms; loss and gain accounts, and method of determining 
losses and gains; disposition of losses and gains; abstracting trial 
balances and uses to which trial balances are put; preparation of 
simple financial statements and final closing of books. Instruction is 
largely individual. Prerequisite for Accounting I. No credit. 
Second semester. Mon., 4 to 6. Mr. Hall. 

Accounting I — Principles — A survey of Accounting adapted pri- 
marily to the demands of general business; also the preparatory work 
for students specializing in Accountancy. Fundamental principles 
and their application; single-entry set of accounts developed into a 
modern accounting system. Problems and questions assigned for 
home study. Open to students with training equivalent to the work 
in Bookkeeping. Prerequisite for Accounting H. Required in the 
first year of the course in Business Administration. Credit, four 
semester-hours. First semester. Mon., Th., 2 to 4. Mr. Kohler. 

Accounting II — Intermediate — Continuation of Accounting I, 
for students desiring a thorough knowledge of accounts and auditing 
for general business training; also for students preparing for the 
C.P.A. examination. Subject matter treated from the auditor's point 
of view. A large number of the problems and questions which form 
the basis of the work are taken from C.P.A. examination papers. 
Statement of Affairs; Realization and Liquidation Account; Trustee 
and Executor's Accounts; Statement showing Application of Funds; 
Adjustment of Partners' Accounts; Capital vs. Revenue Expendi- 
tures; Branch and Agency Accounting; Survey of Principles of Cost 
Accounting including the principal methods used in the apportion- 



l8 NORTHWESTERN UNIVERSITY 



ment of overhead expenses; Auditing — Theory and Practice; Balance 
Sheets and various forms of Income Statements. Mergers and Amal- 
gamations; Consolidated Balance Sheet. Prerequisite for Accounting 
III. Credit, four semester-hours. Second semester. Tues., Fri., 
2 to 4. Mr. Kohler. 

Accounting III — Advanced Theory^ Auditing and Practice — 
Continuation of Accounting II, primarily for persons w^ho expect to 
enter the Accounting profession. Students completing Accounting 
III and the Quiz Course should be prepared to take the Certified 
Public Accountant's examination, provided they are otherw^ise quali- 
fied. Based on the problems and questions set at previous C.P.A. 
examinations. Special points to be considered in the audit of munic- 
ipalities, institutions, banks, investment and insurance companies, 
land companies, publishers, mines, public utilities, contractors, etc. 
Investigations for special purposes. The Auditor's Report. Systems. 
Income Tax. Consolidated Balance Sheet and Consolidated State- 
ment of Profits and Income. Credit, two year-hours. Given in 
Chicago^, Mon., 7 to 9 p. m. Professor Himmelblau. 

Public Service Corporation Accounting — Special points arising 
in the accounts of electric light, gas, water, telephone and telegraph, 
electric railw^ays and steam railways, such as plant costs, intangible 
values, discounts on securities, depreciation, classification of main- 
tenance and betterment expenditures, systems of internal check, etc. 
Classification of Accounts prescribed by the Interstate Commerce 
Commission and various state commissions. Preparation of Balance 
Sheets and Operating Statements for independent and controlled 
companies; compilation of statistical data and the uses thereof. 
Special points to be noted in connection with the purchase or sale 
of utility properties; in audit made for the purpose of certifying to 
amount of bonds which may be taken down under trust indenture. 
Points to be noted in investigations for rate cases; methods of deter- 
mining operating costs of joint utilities, principles underlying the 
valuation of physical and intangible property, methods of calculating, 
"going value," depreciation, working capital, fair value, fair rate of 
return, and procedure expenses. Special facilities available for re- 



^Subjects marked "Given in Chicago" are not offered in Evanston. Many 
of the other subjects are repeated in Chicago sections. The Chicago classes 
meet in the late afternoon and evening, and are intended primarily for men 
who are employed during the day. Except for Resources and Trade, day 
students are admitted to Chicago sections only upon the recommendation of 
their faculty adviser. 



THE SCHOOL OF COMMERCE 19 

search work. Credit, two year-hours. Additional credit may be 
arranged for through seminar. Given in Chicago, Wed., 7 to 9. 
Professor Himmelblau. 

Factory Cost Accounting — Accounting incident to the purchase, 
receipt and issue of raw finished materials, payrolls, and factory 
expenses, and the scientific distribution thereof; issuance of shop 
orders; perpetual inventories; productive and non-productive labor; 
recording and paying of wages; piece work, profit-sharing and 
premium or bonus systems; factory overhead expenses; rent and 
interest in costs; system of repair, renewal and construction orders 
and the allocation of selling, distributing and administrative expenses ; 
the use and value of graphic charts in the final assembly of data and 
statistics. Open to students who have had the equivalent of Ac- 
counting I. Registration on permission of instructor. Credit, two 
year-hours. Given in Chicago, Wed., 7 to 9. Mr. Lynn. 

Quiz Class — Thorough practice work in class room to prepare 
candidates for C.P.A. examinations. Object is to train students to 
apply accounting principles and to work in class room under sub- 
stantially same conditions as in examination room. Practical 
accounting problems; auditing and theory of accounts; analysis and 
discussion. The last hour is devoted to an open discussion of the 
*'how" and "why" of the solutions to problems assigned. Instruction 
is largely individual. Credit, two year-hours. Given in Chicago, 
Sat., 2 to 5. Professor Andersen. 

DEGREE OF CERTIFIED PUBLIC ACCOUNTANT 

By act of the General Assembly passed May 15, 1903, provision 
is made for a state examination for the degree of Certified Public 
Accountant. Copies of the state law and the rules governing the 
examination, and questions given in previous examinations since 1903, 
may be secured at the office of the School of Commerce. 

Banking and Finance 

PROFESSOR LAGERQUIST AND PROFESSOR RICHTER 

Money and Banking (Economics Bi) — First semester — The 
principles of money and the instruments of credit; banks and their 
function; note issue, deposit currency, loans, reserves and banking 
principles. Second semester — Problems of Practical Banking: The 
organization and business of a bank; the trust department; the credit 



20 NORTHWESTERN UNIVERSITY 

department; the officials and their responsibilities. Clearing houses; 
domestic and international exchange; relation of the banks to com- 
mercial crises and to the United States Treasury; banking systems 
and banking legislation. Open to students who have completed 
Economics A (see page 22). May well be preceded by Economics 
AA. Credit, three year-hours. Tu., Th., Sat., 9. Professor 
Richter. 

Corporation Finance (Economics Bj) — Corporate organization in 
modern business; the salient points in its legal organization; classifi- 
cation of the instruments of finance; promotion, underwriting, cap- 
italization, earnings, expenses, surplus, manipulation, insolvency, 
receivership, re-organization, and regulation. Open to students who 
have completed Economics A. Credit, three semester-hours. First 
semester, Mon., Wed., Fri., 9. Professor Lagerquist. 

Investments (Economics Cio) — Markets and their influence on 
the price of securities. Elements of sound investments and methods 
of computing net earnings, amortization, rights, and convertibles. 
Government, municipal, railroad, steamship, street railway, gas, elec- 
tric, water power, real estate, timber, and irrigation securities as 
investments. Open to students who have completed Corporation 
Finance. Credit, three sejnester-hours. Second semester, Mon., 
Wed., Fri., 9. Professor Lagerquist. 

Banking, Advanced Course — Preparation for banking, brokerage 
or bond and mortgage business; credit and the administrative meth- 
ods of houses dealing in credit, especially the commercial bank; loans 
and discounts, the distribution of funds among these classes; credit 
department; foreign and domestic exchange; the relations with cor- 
respondents; customers' accounts, and the extension of business; com- 
parison of methods in vogue in dififerent parts of the United States, 
and practices of foreign institutions; study of our banking law, 
administration of the Comptroller's office and the conduct of exami- 
nations; banking law and practice of the banking departments of the 
principal states. Open to students who have completed Money, 
and Banking. Professor Richter. 

Business Law 

PROFESSOR BAYS AND MR. RUTH 

Business Law I and II — General elementary law; contracts; 
agency; sales of personal property; debtor, creditor, and bankruptcy; 
trademarks and unfair competition. Credit, four semester-hours. 
First semester, Wed,, Fri,, 2 to 4. Professor Bays, 



THE SCHOOL OF COMMERCE 21 



Business Law III — Corporations; partnerships. Given in Chi- 
cago, first semester, Fri., 7 to 9. Credit, two semester-hours. Mr. 
Ruth. 

Business Law IV — Negotiable paper, suretyship, banks and bank- 
ing. Given in Chicago, second semester, Th., 7 to 9. Credit, two 
semester-hours. Professor Bays. 

Business Law V — Law of real and personal property, insurance. 
Given in Chicago, second semester, Fri., 7 to 9. Credit, two semester- 
hours. Mr. Ruth. 

Commerce 

PROFESSOR SWANSON, PROFESSOR TOWER, AND MR. STITT 

Principles of Business Organization and Management (Econom- 
ics C16) — The organization and management of a business with 
reference to operation; functional, territorial and unit specialization; 
coordination of men and departments; the delegation of authority in 
the establishment of standards, in the handling of daily routine and 
operation, in maintaining discipline, in emergencies; the relation of 
responsibility to authority; the manner in which this relation can be 
sustained; control by means of statistics, graphs and charts, reports, 
supervision and inspection, line organization; standardization of 
material, operations, methods, machinery, product; discipline, dis- 
ciplinary officers, principle of reward and punishment, value of fines, 
immediate attention in case of infraction of rules; merit records; 
business policies. Credit, three semester-hours. First semester, Tu., 
Th., Sat., 10:30. Professor Swanson. 

Commercial Organization, Economics C16 — Factors in our dis- 
tributive system including manufacturer ; general and specialty whole- 
saler; jobber and sub-jobber; commission merchant; factory agent; 
broker; department, specialty, general, syndicate store; general re- 
tailer; mail order retailer; retail agent and salesman. Sales, adver- 
tising and credit organization and management of the factors in the 
various schemes of distribution. Credit, three semester-hours. Second 
semester, Tu., Th., Sat., 10:30. Professor Swanson. 

Resources and Trade — First semester — The United States as an 
industrial and commercial nation. Agricultural resources; forest 
resources; mineral resources; water resources; general survey of in- 
dustries and commerce. Second semester — World commerce. Growth 



22 NORTHWESTERN UNIVERSITY 



of world commerce; leading commercial nations; great staples of 
trade; trade routes, traffic, and commercial centers; commercial 
rivalries. Required in the first year of the course in Business Admin- 
istration. Credit, two year-hours. Given in Chicago, Tu., 4 to 6. 
Professor Towner. 

Foreign Trade — Significance. Method of investigating w^hether 
a foreign market exists for a class of goods, and w^here it exists. 
How^ a foreign market can be developed: the nature of the article 
— its uses, possible substitutes, customs, habits, social or economic 
conditions affecting the possible use in a foreign country. Modifica- 
tion of the articles to meet foreign needs or prejudices and to facilitate 
shipment. Work of consular service. International credits; selling 
methods in international trade; packing; invoices; the contract; the 
voyage; the delivery; international exchange. Credit, two semester- 
hours. Given in Chicago, second semester, Fri., 7 to 9. Mr. Stitt. 

Geography of South America — Credit, three year-hours. Tu., 
Th., Sat., 8. 

Trade of South America — Credit, three year-hours. Tu., Th., 
Sat., 10. 

Economics 

PROFESSOR HOTCHKISS, PROFESSOR DEIBLER, PROFESSOR HOWARD, 

PROFESSOR LAGERQUIST, PROFESSOR SECRIST, PROFESSOR 

SWANSON, PROFESSOR VANDERBLUE, PROFESSOR 

HEILMAN, AND PROFESSOR RICHTER 

AA. Economic History — First semester — The general outlines 
of the economic history of England. Second semester — ^The study 
of the economic history of the United States, with due emphasis on 
present economic problems. Open to all students. Credit, three year- 
hours. For College Juniors and Seniors, or toward a major, this 
course bears but two year-hours of credit. Tu., Th., Sat., 9. Pro- 
fessor Swanson. 

A. The Elements of Economics — An elementary course in the 
principles of economics. First semester — An examination of the 
fundamental principles of economics. Second semester — Application 
of these principles to practical problems. Throughout the course 
special attention is given to the relation between theory and practice. 
Required of Sophomores taking Pre-Commerce course. Credit, three 



THESCHOOL OF COMMERCE 23 

year-hours. Credit is not given unless the full course is completed. 
Mon., Wed., Fri., 8, 9, 10; Tu., Th., Sat., 9. Professor Deibler, 
Professor Lagerquist, Professor Secrist, and Professor Vanderblue. 

Bi Money and Banking — See Banking and Finance, page 19. 

B2. Labor Problems and Trade Unionism — First semester — 
The development of a w^age-earning class, with, special emphasis on 
economic causes. Problems of woman and child labor. Immigration. 
Early organizations of labor. Second semester — Trade union his- 
tory, structure, methods and policies. The trade agreement, strikes, 
arbitration, the injunction and the legal responsibilities of the union. 
Alternates with Course C4. Open to students who have completed 
Course A. Credit, three year-hours. Mon., Wed., Fri., 8. Profes- 
sor Deibler. 

B3. Corporation Finance — See Banking and Finance, page 20. 

B4. Sociology — Social evolution and progress, with particular 
reference to social laws. The development of social institutions, as 
the family, the state. The development of social control and the 
social and economic forces in social control. Open to students who 
have completed Course A. Credit, three semester-hours. Mon., 
Wed., Fri., 11. Professor Heilman. 

B5. Present Day Social and Industrial Problems — Industry and 
the modern city. Cities before and since the eighteenth century 
industrial revolution. Industries in relation to urban and rural 
population. Immigration. Women in industry. Industry and the 
family. Industry and the state. Mercantile, laissez faire, and human 
welfare views of industrial legislation. Social betterment activities 
with reference to standards of industrial and social progress. Open 
to students who have completed Course A. Credit, three year-hours. 
Mon., Wed., Fri., 9. Professor Hotchkiss. 

*B6. Elements of Public Finance; State and Local Taxation — 
First semester — The nature of the state; theories of public expendi- 
ture; the direction of public expenditures in cities, states, and in the 
nation; classification of public expenditures; budget making in theory 
and practice. Second semester — State and local taxation. The 
general property tax during the American colonial period; the tax 
history of Ohio to 1850, constitutional tax provisions; uniformity in 
taxation; taxation of real and personal property; comparative tax 



*Not given in 1916-1917. 



24 NORTHWESTERN UNIVERSITY 



administration; inheritance, corporation, and income taxation. 
Alternates with Course C7. Open to students who have completed 
Course A. Credit, three year-hours. Mon., Wed., Fri., 10. Pro- 
fessor Secrist. 

By. Industrial Relations — See Industry, page 26. 

C2. Public Utilities — The relations of public service corpora- 
tions and the public; various methods of regulation and control, the 
franchise, the indeterminate permit, public ownership, public utilities 
commissions; the development by commissions and the companies of 
the principles of valuation, rate making, service and capitalization, 
analysis of recent important commission decisions. Mon., Wed., 3. 
Professor Heilman. 

*C4. Labor Conditions and Labor Legislation — Factory condi- 
tions in respect to hours, wages, sanitation. Industrial accidents, 
safety standards and accident prevention. Limitation of hours. Work- 
men's Compensation. Laws regulating the employment of women 
and children. Unemployment insurance. Minimum wages. Labor 
bureaus and the administration of labor laws. Alternates with 
Course B2. Open to students who have completed or are taking a 
course in the B group. Credit, three year-hours, Mon., Wed., 
Fri., 8. Professor Deibler. 

C7. Principles of Public Finance and Taxation — First semester 
— Public finance viewed as the science and method of satisfying public 
wants ; the field of private and public activity ; economy and efficiency 
in public expenditures; budget making; ordinary and extraordinary 
sources of revenue; war finance; public debts and financial adminis- 
tration. Second semester — Principles of taxation. Historical survey 
of early taxation with respect to tax principles; justice in taxation; 
theories of taxation; distribution of taxation; present tendencies and 
reform in taxation. Open to students who have completed or are 
taking a course in the B group. Credit, three year-hours. Mon., 
Wed., Fri., 10. Professor Secrist. 

C8. Social and Economic Reforms — A study of various pro- 
posals for economic reform. Socialism, the Marxian philosophy and 
its recent modifications, the growth and tactics of Socialist party in 
Europe and the United States, communism and the communistic 
experiments, the Single Tax, profit sharing in industry. Social insur- 
ance. First semester. Mon., Wed., Fri., 10. Professor Heilman. 

C9. Value and Distribution — A more thorough study of eco- 
nomic principles than is possible in the introductory course. A com- 



THESCHOOL OF COMMERCE 2$ 

parison of the theories of distribution as developed in the works of 
prominent economists as Marshall, Bohm-Bawerk, Taussig, Clark, 
Fisher, etc. Credit, three semester-hours. Second semester. Mon., 
Wed., Fri., lO. Professor Heilman. 

Cio. Investments — See Banking and Finance, page 20. 

Cii. Transportation — See Transportation, page 27. 

*Ci2. Trusts and Government in Industry — See Industry, page 
25. 

C14. Special Problems in Social Betterment — Individual con- 
ferences and reports upon special phases of topics covered in Course 
B5. Study of literature and source materials on a particular subject 
together with a moderate amount of field work. Results embodied in 
a semester report carrying two hours of credit. Open at the discre- 
tion of the instructor to students who have completed Course B4, 
and who are taking B5. Second semester, hours to be arranged. 
Professor Hotchkiss. 

C15. Statistics and Statistical Methods — See Statistics, page 27. 

C16. Principles of Business Organization — See Commerce, 
page 21. 

C16. Commercial Organization — See Commerce, page 21. 
D. Seminar — See Seminar and Research Courses, page 28. 

Industry 

PROFESSOR HOTCHKISS, PROFESSOR HOWARD AND MR. DUTTON 

Factory Management — ^^Factors affecting location of plant; adap- 
tation of building to process; types of factory building; routing of 
work; selection and arrangement of machinery; auxiliary depart- 
ments. Types of organization and special adaptations of each type; 
executive control; methods in the Production, Stores, Purchasing, 
Shipping, Engineering, Cost, and other departments ; routing of work ; 
progress records; standardization. Handling of labor, wage systems; 
time study; selection, discipline, and records; methods of securing the 
workmen's co-operation. Credit, four semester-hours. First semester, 
Wed., Fri., 2 to 4. Mr. Dutton. 

*Trusts and Government in Industry (Economics C12) — First 
semester — Historical development of the trust problem. Second 
semester — Monopoly and the restraint of trad? under the common 



26 NORTHWESTERN UNIVERSITY 



law; trust regulation as a problem in administration; state and fed- 
eral anti-trust laws; work of existing commissions; trust policies in 
foreign countries; present basis and proposed methods of trust regu- 
lation. Alternates with Economics B5. Open to students who have 
completed Economics B3. Credit, three year-hours. Mon., Wed., 
Fri., 9. Professor Hotchkiss. 

Efficiency Standards — Absolute and relative standards of effi- 
ciency: graphical methods; analysis of the problem; selection of the 
unit of measurement. Determination of Standards; of Investment 
Efficiency; the Investment Equation; of Labor Efficiency, composite 
merit standards for judging employes, time and motion study, in- 
ventive and statistical; of Method, instruction cards; of Quality, 
specifications. Application of Standards; the Schedule as applied to 
factory, office and other lines of work; Routing; Dispatching; Fol- 
low-up. The course will consist principally of laboratory problems 
to be worked out by the class. Credit, three semester-hours. Second 
semester, Wed., 2 to 3, Fri., 2 to 4. Mr. Dutton. 

Industrial Relations — This is a new course prepared to meet the 
demand for instruction in the scientific adjustment of the relations 
of employer and employe. The basis of the course will be the labor 
arrangements existing in such organizations as Hart, Schaffner and 
Marx, the Ford Motor Company, the United States Steel Corpora- 
tion, Procter and Gamble, the J. B. Stetson Company, and the Cloak 
and Suit Manufacturers Association in New York. 

Many manufacturing concerns have already established special 
labor departments to administer the policies and plans of the manage- 
ment concerning its employes. Employment, welfare work, dealing 
with organized labor, accident and compensation, benefit societies, 
etc., are among the functions of such departments and there is an 
increasing demand for men to take charge of such work. A broader 
understanding of all modern devices to secure harmonious relations 
between management and employes is becoming increasingly more 
necessary to every employer of labor. Credit, three year-hours. 
Tu., Th., and Sat., 9. Professor Howard. 

Psychology 

PROFESSOR SCOTT, PROFESSOR GAULT AND DR. TOLMAN 

Ai. Elementary General Psychology — Class room demonstra- 
tions and guidance to private observation ; demonstration of appara- 
tus and methods of experimental psychology; written exercises and 



THE SCHOOL OF COMMERCE 27 

experiments by members of the class; text-book, lectures, and collat- 
eral reading. Open to College Sophomores, Juniors, and Seniors. 
Required in the Pre-Commerce course. Credit j three year-hours. 
Mon., Wed., Fri., 10, 2. Professor Scott and Professor Gault. 

Bi. Experimental Psychology — Intended for students of gen- 
eral psychology who desire to become acquainted with laboratory 
methods. Open to students who are taking or have completed 
Course Ai ; see University Catalog, page 135. Two consecutive 
hours of laboratory work are required for one hour of credit. Credit, 
two year-hours. Wed., Fri., 3 to 5 ; Tu., Th., 3 to 5. Dr. Tolman. 

B3. Applied Psychology; Business — Psychological principles 
which have the most direct application to business. Analysis of busi- 
ness practices and an attempt to understand from a psychological 
standpoint some of the causes of successes and failures in business. 
Individual students study the actual and also the possible applica- 
tions in business of such factors as imitation, competition, loyalty, 
the love of the game, and personal differences. More attention is 
paid to advertising than to other forms of business. Open to stu- 
dents who have completed Course Ai. Mon., Wed., Fri., 10. 
Credit J three year-hours. Professor Scott. 

Statistics 

PROFESSOR SECRIST 

Statistics and Statistical Methods (Economics C15) — Designed 
to prepare students to use approved statistical methods discriminat- 
ingly in the analysis of economic problems. Uses and abuses of 
statistics studied by means of problems drawn from general economics 
and business. Lectures and laboratory. Open to students who have 
completed a course in Economics as advanced as the B group. Credit, 
four semester-hours. Second semester, Mon., Wed., 3 to 5. Pro- 
fessor Secrist. 

Transportation 

PROFESSOR VANDERBLUE 

Transportation (Economics Cii) — Development of American 
transportation systems; the economic characteristics of railroads; 
competitive and non-competitive rate-making; the Interstate Com- 
merce Act, as amended; the causes of the passage of the Act, and 
the results of its workings; the railroad traffic associations; general 
characteristics of the rate structure; railroad rates and the problems 
of plant location, and of marketing; milling and fabrication in transit; 



28 NORTHWESTERN UNIVERSITY 

diversion; routing and tracing; the Administrative and Conference 
rulings of the Interstate Commerce Commission; the Interstate 
Commerce Act, and its interpretation. Credit, three semester-hours. 
First semester, Tu., Th., Sat., 8. Professor Vanderblue. 

Rate-making (Economics Cii) — The place of the Traffic De- 
partment in the railroad organization; the rules of the Interstate 
Commerce Commission governing the compilation, filing, and publi- 
cation of tariffs; the Official, Western, and Southern Classifications, 
and the extent of their application; the interpretation of classifica- 
tions and of tariffs; Trunk Line and Central Freight Association 
rates; rates into Southeastern Territory, and the Carolinas; the 
Virginia Cities adjustment; Trans-Mississippi and Trans-Missouri 
rates; Colorado, Utah, and Montana common points; rates to 
Southwestern Territory and Texas common points ; Transcontinental 
rates; intra-state and intra-territorial rates; the effect of the Panama 
Canal on rates and traffic; export and import rates; port differentials 
and the decisions of the Commission thereon. Credit, three semester- 
hours. Second semester, Tu., Th., Sat., 8. Professor Vanderblue. 

Seminar and Research Courses 

Economic Seminar (Economics D) — Involves an original investi- 
gation extending over a complete school year, dealing with a phase 
of a fundamental economic problem related to the probable future 
business field of the student. Students meet for the discussion of 
general questions involving the technique of investigation, such as 
the use of original materials, taking of notes, marshalling of facts. 
The individual work is done under the direction of a member or 
members of the faculty. Intended to give the students training in 
the use of original data and in drawing correct and accurate con- 
clusions based on all of the facts in a limited field of inquiry. Credit 
3-6 hours. The normal registration of second year students in Busi- 
ness Administration will be four hours. 

Advanced Seminars in Special Fields: Commercial Organization, 
Factory Management, Banking and Finance, Accounting, etc. — 
Organization similar to the one above, except that the work of each 
student is entirely Individual and under the direct supervision of a 
member of the faculty. Thorough investigation of some fundamental 
problem, particularly from the standpoint of business organization in 
the special field. Preceded normally by Economics D. 

Problems and Field Work — Intended to give an opportunity for 
students In their fifth year to come in contact with some of the actual 



THE SCHOOL OF COMMERCE 29 

problems of organization and management, found in an individual 
establishment or group of establishments. In some cases, the work 
is based upon the experience obtained by actual employment during 
the preceding summer. In other cases, the experiences of summer 
work are used in connection with work carried on by the student 
contemporaneously with the third year of the Business Administra- 
tion course. 

Other Courses 

COLLEGE OF LIBERAL ARTS 

Students in Business Administration are encouraged to elect 
College work in English and other modern languages. History and 
Political Science, Mathematics, the laboratory sciences, and in any 
other subjects in which the discipline secured will contribute to the 
efficiency of the student in the line of business for which he is pre- 
paring. 

THE LAW SCHOOL 

Students are also encouraged to supplement the Law courses 
offered in the School of Commerce by work in the Law School in 
all cases where further legal training seems essential to the best 
preparation for a particular career. This applies particularly to the 
students preparing for Foreign Trade, for whom a thorough training 
in International and Constitutional Law is indispensable. 



For details concerning courses in the College of Liberal Arts and 
in other schools of the University, consult the Annual Catalog of the 
University. 

GENERAL INFORMATION 

The Library 

The Library contains 105,000 bound volumes and approximately 
70,000 pamphlets. It is open to officers of the University, and to 
students upon the payment of their regular semester bills under the 
following regulations: 

I. During the college year the Library is open, except on Sun- 
day, from 8 a. m. to 10 p. m. In the summer vacation, except on 
Saturday afternoon and on Sunday, it is open from 8 a. m. until 12 
noon and 1 130 p. m. to 5 p. m. The Library is closed on New Year's 
Day, the Fourth of July, Thanksgiving Day, and Christmas Day. 



30 NORTHWESTERN UNIVERSITY 



2. Officers of the University have direct access to the shelves 
and are entitled to the first use of books. 

3. Students may draw^ from the Library three volumes at a 
time, and these may be kept for two wrecks unless specially restricted. 
Graduate students may have six volumes at a time. 

4. The book stacks are not open to the students in general or 
to the public; but cards of admission may be given by the Librarian 
on recommendation of an officer of instruction. 

5. Reserved books in the reading room and the seminary rooms 
are w^ithdrawn from circulation at the request of officers of in- 
struction for the use of their classes. The books reserved in the read- 
ing room and other books of reference are placed on open shelves 
freely and equally accessible to all readers ; or, w^hen much in demand, 
they are kept at the desk, and delivered on application there. These 
books are on no account to be taken from the reading room, and must 
be used w^ith due regard to the rights of others. 

6. Persons not members of the University are allowed the use 
of the reading room at the discretion of the Librarian. Persons in- 
troduced by an officer of the University may be permitted to take 
books for a short period on the officer's account, or may be granted 
the privileges of the Library upon written application endorsed by an 
officer of the University. 



In addition to the University Library in Evanston, there are avail- 
able to the students of the School of Commerce the Commerce 
Library in the Northwestern University Building, Chicago; the 
Elbert H. Gary Library of Law, housed in the same building; the 
John Crerar Library, located in the Marshall Field Building, and 
the Public Library of Chicago. The John Crerar Library is very 
completely equipped with materials for use in business research. 

Employment for Graduates 

Although the School of Commerce does not promise to secure 
positions for its graduates, it has organized a Bureau of Employment 
through which it makes a systematic effort to find positions for stu- 
dents w^ho have made a good record in the School. Aside from the 
opportunity which the Bureau of Employment affords in placing 
graduates, the association with the students in the evening school, 
for which the curriculum provides in the third year of the course in 



THE SCHOOL OF COMMERCE 31 



Business Administration, will aid students in making satisfactory con- 
nection with business firms upon the completion of their study. 

In most cases the third year students will be employed a portion 
of the time with a local business house engaged in the business for 
which the student is specializing. In such cases the student will be 
afforded an opportunity to make acquaintances which may lead to a 
permanent connection. 

Residences for Men 

Eleven new dormitories, of which seven are fraternity houses and 
four are so-called College Houses, are now available for men students, 
and all men are required to live in a dormitory unless for sufficient 
cause they are given formal permission to live elsewhere. 

The College Houses are named Lindgren House, after Mr. John 
R. Lindgren, the donor; Hinman House, Foster House, and Haven 
House, after the first three Presidents of the University. 

For description of the Buildings, see page 47 of the General 
Catalog. 

A dining hall or Commons is operated on the top floor of one 
of the buildings, where good board may be had at reasonable prices. 

Each student room is for one person and is furnished with a 
single bed, mattress, pillow, chiffonier, a combined study table and 
bookcase, chairs, rugs, and window shades. The occupant furnishes 
his own bedding and towels, but the University takes charge of the 
laundering of these. In the interest of economy, the cost of electric 
lighting is not included in the general charge, but is apportioned pro 
rata, to the occupants of the House. 

The charge to each student for a single, furnished room, includ- 
ing care and heat for the school year, is from $90 to $110, except for 
rooms having a private bath, or a bath reserved for a suite, for which 
the annual charge is from $120 to $150. A chart can be obtained 
from the Registrar showing the location of rooms, with cost. 

Room rent is payable in two installments, one at the beginning 
of each semester, and is not returnable. A deposit of $10.00 is 
required at the time a room is assigned, to be held until the end of 
the college year to cover possible charges, any unused balance to be 
returned to the student. 

Applications and all inquiries in regard to the dormitories should 
be sent to the Registrar, University Hall, Evanston, Illinois. 



32 NORTHWESTERN UNIVERSITY 

Business Fellowships 

Arrangements have been made with the National City Bank of 
New York to select annually one or more students from a group 
recommended by the School of Commerce, to spend in that institution 
a full year consisting of summer vacations and a period imme- 
diately following graduation. The student will be paid $50.00 per 
month by the bank, and will be allowed a maximum sum for travel- 
ing expenses. 

Several Chicago firms will employ, during vacations, a selected 
number of students who have definitely decided to enter the line of 
business in which the respective firms are engaged. 

Fellowships 

Two part-time fellowships are awarded each year. These fellow- 
ships carry an honorarium of $400 each, and tuition; applications 
should be filed before April first. 

Commerce Society 

The Commerce Society is an organization composed of students 
interested in commerce who meet specified requirements. This 
Society meets every two weeks and is addressed by business men. 
Since its organization in March, 19 16, the speakers who have ap- 
peared before the Society have included Edward M. Skinner, 
General Manager of Wilson Brothers; George Woodruff, President 
of the First National Bank, Joliet; Irving A. Berndt, Manager of 
Betterment Department, Joseph T. Ryerson & Son. 

Grades of Scholarship 

At the end of each semester the standing of each student in each of 
his courses is reported by the instructor to the Secretary and is en- 
tered of record. Standing is expressed, according to proficiency, in 
grades A, B, C, D, E, F. 

Grade A denotes superior scholarship; grade B, good scholarship; 
grade C, fair scholarship; grade D, poor scholarship; grade E, a 
condition which may be removed by a second examination ; grade 
F, a failure removable only by repetition of the subject in the class. 
Work of grades A, B, and C is counted toward a degree. Work of 
grade D may also be counted toward a degree, but not more than one- 



THE SCHOOL OF COMMERCE 33 

fifth of the work done under the Commerce Faculty offered to meet 
the requirements for graduation may be of this grade and no work 
of this grade may be counted toward the B.B.A. degree, unless offset 
by an equal amount of work of grade A in the same semester. 

Students who secure a lower grade than D in any course will 
be permitted to continue their work for the B.B.A. degree only in 
very exceptional cases. In such cases, regulations for making up the 
work in which the deficiency occurs are the same as obtain in the 
College of Liberal Arts. 

Work reported ''incomplete" at the end of any semester, and not 
made good by the beginning of the corresponding semester of the fol- 
lowing year, can thereafter be given credit only by repetition in 
class. 

The semester records of students are sent by the Secretary to the 
student's father or guardian. 

Class Attendance 

Students are expected to attend all regular class exercises and 
conferences which the instructor may designate. Each instructor is 
at liberty to adopt such measures as he deems expedient for bringing 
this about. In case absences in any course should be repeated, the 
adjustment of work takes place under the rules which obtain in the 
College of Liberal Arts. See Annual Catalog, page 163. 

Fees and Expenses 

All fees are due and payable in advance and until paid the 
student's registration is considered provisional. 

Registration Fee — A fee of five dollars is paid each semester by 
all students to cover general administration expenses. It is not sub- 
ject to refund. 

Tuition Fees — Students are required to pay fees for instruction 
and incidentals each semester as follows: 

Regular full tuition and incidentals $55.00 

Students pursuing a single study, i. e., work not exceeding 

five hours a week 33.00 

Graduate students pursuing courses prescribed for the degree of 
Bachelor in Business Administration are required to pay the tuition 
of the School of Commerce. 



34 NORTHWESTERN UNIVERSITY 

Lecture Note Fees — A fee sufficient to cover the cost of prepar- 
ing and manifolding notes in certain subjects is entered with the 
tuition bill at the beginning of each semester. This fee, depending 
on the subject, varies from $3.00 to $5.00 a semester. 

Late Registration — A fee of two dollars is charged students reg- 
istering after the first Wednesday in the first semester and after the 
first Saturday in the second semester. 

Changes in Registration — A fee of one dollar is charged for any 
change in registration after the first full week of a semester. 

Special Exa?fiinations — A fee of two dollars is charged for each 
examination taken at a time other than that provided in the regular 
schedule. 

Graduation Fee — A fee of ten dollars is charged persons taking 
any degree. This fee is payable on the first day of May of the year 
of graduation. 

Refunds — No fees for instruction or incidentals will be refunded 
except in cases of sickness. If on account of his serious illness a 
student withdraws before the middle of a semester, one-half of his 
tuition fee will be refunded, providing he secures from the Dean a 
statement of honorable standing, and from a physician a certificate 
that his health will not permit him to remain in attendance. Appli- 
cation for a refund must be made before the close of the semester for 
which the fee was paid. 

Bills for fees are made out at the Commerce Office in Harris 
Hall. Payment is made at the Business Manager s Office, 51S Davis 
Street, Evanston. Checks should be made payable to "Northwestern 
University,' and all payments should be made in currency or in Chi- 
cago exchange. 

ESTIMATED ANNUAL EXPENDITURES 

LOW AVERAGE LIBERAL 

Registration fees $10 $ 10 $ 10 

Tuition and incidental fees no no iio 

Laboratory and other fees 10 25 40 

Board, 36 weeks 162 180 252 

Room, 9 months 90 lOO IIO 

Laundry 25 36 45 

Text-books and stationery 10 25 50 

$417 $486 $617 



THE SCHOOL OF COMMERCE 35 



SELF-SUPPORT OF STUDENTS 

The University does not encourage students to enter school if 
entirely without resources. Not a few students, however, are able 
to help themselves materially by their labor, while pursuing studies. 
The Young Men's Christian Association, Evanston, conducts a 
bureau of self-help which is of assistance in securing work for a 
large number desiring it. Inquiries sent to the Secretary of this 
Association receive careful attention. 

UNIVERSITY NOT RESPONSIBLE FOR PERSONAL LOSSES 

The University is not responsible for the loss of any personal 
property belonging to any of the students in any building owned by 
the University, whether the loss occurs by theft, fire, or an unknown 
cause. 

HOW TO ADDRESS CORRESPONDENCE 

All correspondence concerning the course in Business Adminis- 
tration is handled at the Chicago office of the School of Commerce. 
Address letters of inquiry to the Secretary, Northwestern 
University School of Commerce^ Northwestern University 
Building, Chicago. 

Full information regarding requirements j courses, and fees for 
Pre-Commerce students is contained in the Annual Catalog of the 
University. This may be secured by addressing the Registrar of the 
College of Liberal Arts, Evanston, Illinois. 



3 0112 105882028 



HOW TO ADDRESS 
CORRESPONDENCE 



ALL correspondence is handled at 
the Chicago Office of the School 
of Commerce. Address letters of 
inquiry to the Secretary, Northwestern 
University School of Commerce, North' 
western University Building, CHICAGO. 



Northwestern University Bulletin is published weekly by Northwestern University 
during die academic year at Chicago, Illinois. Entered as second class inail tnatter 
November 21, 1913, at the post office at Chicago, Illinois, under act of Congress of 
August 24, 1912.